In a Cobb-Douglas Production Function, the Marginal Product of Labour

question 152

Multiple Choice

In a Cobb-Douglas production function, the marginal product of labour will increase if:

• A)the quantity of labour increases.
• B)the quantity of capital increases.
• C)capital's share of output increases.
• D)average labour productivity decreases.

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Definitions:

Compound

Substance composed of two or more different types of atoms that are chemically combined.

Simple

In biological terms, this often relates to structures that are uncomplicated in form, such as simple tissues that consist of a single type of cell.

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Organs that secrete hormones directly into the bloodstream to regulate various body functions.

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The flow of blood through the circulatory system of an organism, delivering nutrients and removing waste products.